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On 9 October 2008, the Economic and Social Research Council (ESRC) published research (Boomers and beyond: intergenerational consumption and the mature imagination) which reveals that most members of the baby boom generation - often regarded as the first teenagers of a more affluent consumer society - have modest ideas for their retirement. While some plan substantial projects, particularly in relation to travel or using second homes, most people's ideas for spending time after retirement follow a traditional pattern.
The first wave baby boom generation, born between 1945 and 1954, represents 17% of the UK population. Born at a time of austerity, this group later experienced relative prosperity and the emergence of a mass consumer society.
The research looks in particular at the role of consumption in approaches to adult ageing. It examines the extent to which baby boomers see themselves as part of a distinctive generational group and how this might affect consumption patterns.
It reveals that Britain's post-war baby boomers, associated throughout their lives with social change, are failing to break new ground in their approach to growing old.
The study’s findings provide only limited evidence that first wave boomers are developing new third age lifestyles. Most have fairly modest aspirations, hoping at best to maintain current lifestyles and activities providing health and finances permit them to do so. The range of lifestyles is greater than would have been the case with previous generations but there is little evidence of 'alternative' models of consumption.
Boomers and beyond: intergenerational consumption and the mature imagination